There have been more delays at Surface Transforms.
The carbon fibre brake discs developer says some revenues will be delayed until 2019-2020 or later. This is mainly due to the customer known as OEM 6, but the value of the contracts has not changed.
Forecast revenues for the year to May 2019 have been halved to £1m. Surface Transforms was expected to make a 2018-19 loss of £1.9m, compared with £2.2m in 2017-18, but the forecast loss has been increased to £2.7m.
Surface Transforms recently raised £1.9m at 15.5p a share. The share price has fallen to 11.5p.
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